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UAE Prepares To Trial First Driverless Truck At Dubai South

The tests will be conducted at the Logistics District and will help manufacturer Evocargo optimize the vehicles for the MENA region.

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uae prepares to trial first driverless truck at dubai south
Dubai Media Office

Dubai South, an urban master developer focused on aviation and logistics, has agreed to host a testing program for driverless trucks, which will be undertaken by Dubai-based firm, Evocargo.

The rigorous tests will take place at the development’s Logistics District and help to create a fleet of vehicles specifically configured for the climate and conditions of the Middle East and North Africa.

An on-site control facility will be built to manage the autonomous trucks, using remote operators and banks of sensors to monitor progress. The initial trials are aimed at “setting new benchmarks and consolidating the leadership status of the country’s logistics sector” and will help Dubai and the region as a whole to scale its logistics and supply chains for a globally-connected future.

Also Read: Dubai’s DMCC Gaming Centre Adds To A $1.8B Industry

The worldwide autonomous vehicle industry is forecast to pass $1.8 trillion in value by 2030, which represents a staggering growth rate of 39%. The UAE has already undertaken several initiatives to bring driverless vehicles to its roads as part of a broader push toward sustainability and modernization.

evocargo evo driverless truck

As for the Evocargo vehicles, the company’s main truck, the EVO.1, has a lifting capacity of 2,000 kg and can carry six Euro-pallets at 25 kmph. The light truck has a total range of 200 km and can charge from flat in 40 minutes using a special charging station — or up to 6 hours from a regular outlet.

Evocargo’s Dubai South tests will be the company’s first venture into autonomous vehicles as part of a global logistics network, and represent a significant milestone for Dubai as it continues to lead the region as a city of technological innovation.

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Binance Receives Virtual Assets License To Operate In Dubai

As its user base nears 200 million, CEO Richard Teng believes crypto adoption will soar over the next half of the decade.

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binance receives virtual assets license to operate in dubai

Global crypto exchange Binance has been granted a full operational license in Dubai, in a move that’s expected to accelerate digital asset adoption and strengthen the UAE’s regulatory landscape.

The virtual asset service provider license (VASP) was granted by the Dubai Virtual Assets Regulatory Authority (VARA) and will allow Binance to extend its current range of services to retail investors, the company announced yesterday.

The move by Dubai authorities will be critical to Binance’s strategy of growing its user base globally. The crypto exchange expects to pass the 200 million user mark “quite shortly”, according to Richard Teng, the company’s CEO.

Once that milestone is achieved, Binance will have around twice as many users as rival platform Coinbase. Meanwhile, Crypto.com, another popular exchange with 80 million users, received a Dubai VASP license last week.

“We’re seeing much greater institutional adoption and institutional money coming into this space [along with] much greater regulatory clarity and a lot more jurisdictions approving [digital asset] products that bring in new investor classes,” Binance’s Richard Tang explained, adding: “As of now, we stand at about 5% crypto adoption globally, but that will become much faster moving forward”.

Also Read: Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42

Dubai and the UAE are extremely supportive of technologies like digital assets, and have already launched initiatives to boost adoption. The UAE has ambitious plans to become a world leader in the crypto economy of the future, with Dubai in particular being noteworthy for passing a new law to regulate virtual assets to support investors and exchanges.

“Global crypto regulation is currently showing diverging signs. Some developed countries have long suffered from crypto-related frauds and illegal exchanges. On the other hand, emerging nations like the UAE and Singapore have enacted crypto laws at faced pace,” said Vijay Valecha, chief investment officer of Dubai-based Century Financial.

As the UAE gears up to become one of the fastest-growing crypto capitals worldwide, investors and talent are flocking to places like Dubai. During 2023, the Emirates as a whole realized $204 million in capital gains from cryptocurrency investments, according to blockchain data analysts Chainalysis.

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